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USDCHF - Downward trend will continue, Short trade by market price recommended

January 17, 2022 7:41:01 AM by Alexander Zorevyk
Forecast Details
PairUSDCHF
Direction Sell
StatusClosed (0.9145)
7:37
7:37
Jan. 17, 2022

-75 p
0.9220
Stop Loss
0.9145
Entry
+70 p
0.9075
Target 1
+100 p
0.9045
Target 2
Chart & Analyst Comments
main-sell-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. There is an increase in the number of bulls on the upward movement, followed by correction. We consider this movement as a trap for buyers and look forward for a continuation of the downtrend.
  3. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  4. MVP line is above the price and acts as a resistance level.
  5. The first target is at the level of the previous bottom - 0.9075, and the second one, in case of an active price decrease, is at the level - 0.9045
  6. Visually assessing the ratio of buyers and sellers, we see that retail buyers dominate on the market. This fact favors the Short Orders.
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